Man U tycoons 'want seat on board'

THE two Irish horseracing tycoons who own almost a quarter of Manchester United may soon demand a seat on the board, it has been reported.

The Sunday Times quotes sources close to John Magnier and JP McManus as saying the pair are considering using a boardroom presence as a way of protecting their £140m investment in the club.

The paper says the pair are concerned about the board's offer of a new contract to team manager Sir Alex Ferguson, at a time when he is considering taking legal action against them to settle a dispute over the racehorse Rock of Gibraltar.

Under company rules Magnier and McManus have no automatic right to board representation at United. If the board refused that request, they would have to get the backing of 50% of the shareholders at the annual meeting.